Fund supports surgical products group: £50,000 loan supports investment in clean room technology
Published: 10th May 2005
A £50,000 loan by South Yorkshire Investment Fund has helped a Sheffield manufacturer of injection moulded and blown plastic products to construct a special clean room for the production of surgical products.
Caledonian Plastics Ltd has installed the special dust free clean room at its premises at the Holbrook Industrial Estate to enable it to meet increased Health and Safety standards covering the production of medical instruments.
The family-owned company employs 35 people and supplies injection moulded plastic handles for scalpels to a leading Sheffield manufacturer of surgical instruments.
Caledonian Managing Director John Laing said: "The new clean room provides us with a controlled environment for the production of scalpel handles and will enable us to further develop this specialised market. It makes us more competitive in this field and will lead to business growth and the creation of a few more jobs."
"The SYIF funding has helped us a great deal and, along with funds from our own resources, means that we have been able to upgrade our facilities to meet the demands of a challenging marketplace."
Investment Manager Karl Hodson said: "Caledonian Plastics is a well established producer of plastic products which has developed a niche market in plastic handles for surgical instruments. We were happy to help the company meet the cost of a new clean room that will enable it to increase its business in this area."
Caledonian also supplies handles to another Sheffield producer of retractable scalpel blades which are increasingly becoming a legal requirement in some parts of the United States.
Whilst products for the medical sector account for about one-third of the firm’s output, Caledonian also produces a wide range of plastic and containers, including bottles and watering cans. The company was originally founded in 1892 as a laundry business and moved into plastics in the mid 1960s.
- Invitation to Tender for Fund Management Contracts
- Move to Barnsley
- Jobs boost from investment fund
- Finance Yorkshire looks to a future of investment
- New finance venture to boost businesses
- Screenprint displays the signs of success
- Doncaster hospitality company looks to the future
- Printing company gets it Wright with SYIF
- More Business & Investment News...
About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).